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Real estate firm Fifth Wall is raising a new $500 million fund called Fifth Wall React. regulatory filing.
Led by co-founder and CEO Brendan Wallace (pictured), the eight-year-old firm already manages $3.2 billion in capital, including 866 million dollars the fund was the largest venture fund focused on real estate technology startups at the end of 2022. The Fifth Wall was also closed 500 million dollar fund Investing in real estate climate technology that aims to decarbonize the property industry by early 2022.
The new fund is significant because proptech has been challenged after interest rates rise in 2022. However, the US Federal Reserve’s decision to cut interest rates has many investors expecting another hike.
Fifth Wall’s most prominent exits include home seller Opendoor, property insurer Hippo Insurance and smart home technology SmartRent. The Fifth Wall did not respond to TechCrunch’s request for comment.
